Updated about 9 years ago on . Most recent reply
Funding, who do you recommend?
My businesses is quite simple, I buy properties all over the country at 60% of as-is value from off market deals and re-sell at full value on the MLS. From signing the contract to closing title I try to have the house purchased within 30 days. Depending on the area it usually takes 1 week to 5 months to re-sell the property. Other than clean the place up I really don't do any "fixing".
Up until now I've been using private lending partners, friends, and family money but we are buying more homes than we have funds for so am looking for alternative funding sources. I've narrowed it down to two companies, lendinghome and groundfloor. Both have some major positive perks but also some downsides (such as groundfloor doesn't lend in all the states I do businesses in).
Anyone use either of these companies or have any other recommendations on who I should look at? Oh and most of the homes I purchase are between $50k - $200k. Appreciate any responses.